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Altermagnets represent a new class of magnetic phases without net magnetization that are invariant under a combination of rotation and time reversal. Unlike conventional collinear antiferromagnets (AFM), altermagnets could lead to new correlated states and important material properties deriving from their non-relativistic spin-split band structure. Indeed, they are the magnetic analogue of unconventional superconductors and can yield spin polarized electrical currents in the absence of external magnetic fields, making them promising candidates for next-generation spintronics. Here, we report altermagnetism in the correlated insulator, magnetically-ordered tetragonal oxychalcogenide, La$_2$O$_3$Mn$_2$Se$_2$. Symmetry analysis reveals a $\mathit{d}_{x^2 - y^2}$-wave type spin momentum locking, which is supported by density functional theory (DFT) calculations. Magnetic measurements confirm the AFM transition below $\sim$166 K while neutron pair distribution function analysis reveals a 2D short-range magnetic order that persists above the N\'eel temperature. Single crystals are grown and characterized using X-ray diffraction, optical and electron microscopy, and microRaman spectroscopy to confirm the crystal structure, stoichiometry, and uniformity.

Noncentrosymmetric triangular magnets offer a unique platform for realizing strong quantum fluctuations. However, designing these quantum materials remains an open challenge attributable to a knowledge gap in the tunability of competing exchange interactions at the atomic level. Here, we create a new noncentrosymmetric triangular S = 3/2 magnet CaMnTeO$_6$ based on careful chemical and physical considerations. The model material displays competing magnetic interactions and features nonlinear optical responses with the capability of generating coherent photons. The incommensurate magnetic ground state of CaMnTeO$_6$ with an unusually large spin rotation angle of 127 deg.(1) indicates that the anisotropic interlayer exchange is strong and competing with the isotropic interlayer Heisenberg interaction. The moment of 1.39(1) $\mu$B, extracted from low-temperature heat capacity and neutron diffraction measurements, is only 46% of the expected value of the static moment 3 $\mu$B. This reduction indicates the presence of strong quantum fluctuations in the half-integer spin S = 3/2 CaMnTeO$_6$ magnet, which is rare. By comparing the spin-polarized band structure, chemical bonding, and physical properties of AMnTeO$_6$ (A = Ca, Sr, Pb), we demonstrate how quantum-chemical interpretation can illuminate insights into the fundamentals of magnetic exchange interactions, providing a powerful tool for modulating spin dynamics with atomically precise control.